Accounting setups are used to combine the major groups with general ledger account.
There are six accounting setups which allows user to decide which GL accounts you would like to post values from transactions.
|Sl.No||Doc No||Setup Name||Business Accounting Group||Product Accounting Group|
|1||T001||Trading accounting setup||Trading Business (TB)||Trading Products(TP)|
|2||M002||Manufacturing Accounting Setup||Manufacturing Business||Manufacturing Products|
Trading business groups mapped with customer or vendor and trading products group mapped with item.
- A (Customer) mapped with Trading Business(for Business Accounting Group).
- P1 (Item) mapped with with Trading Product (for Product Accounting group).
- P2 (item) not mapped with any posting group.
- P1 and P2 (Items) are sold to A (Customer) for USD 1000 and USD 500 respectively.
|Doc No||Sales a/c (Income)||Purchase a/c (Expenses)||COGs A/c (Expenses)||Stock Liability A/c (liabilities)||Stock Assets A/c (Assets)|
|A001||Temp A/c||Temp A/c||Temp A/c||Temp A/c||Temp A/c|
|T001||Sales (Trading)||Purchase (Trading)||COGs (Trading)||Item received but not billed a/c (Trading)||Item delivered but not billed a/c (Trading)|
|M002||Sales||Purchase||COGs||Item received but not billed||Item delivered but not billed a/c|
Sales entry will be as follows
- A (customer) A/c USD 1500 Debit
- Sales (Trading) A/c USD 1000 Credit
- Temp (Sales) A/c USD 500 Credit